Author: Elan
stormy skies Zambia’s President Hakainde Hichilema edged closer to securing a second term Monday as results came in from last week’s vote, marred by opposition arrests and a much-criticised suspension of vote counting. By AFP Zambian incumbent President and United Party for National Development (UPND) presidential candidate Hakainde Hichilema casts his ballot in Lusaka on 13 August 2026. © Gianluigi GUERCIA/AFP) Published on August 17, 2026 at 17:27 pm (GMT +1) Zambia President Hakainde Hichilema, 64, is seeking a final five-year term with the 13 August election seen as a high-stakes referendum on the management of the economy as copper…
Listen to this article Tokyo is redefining its engagement with Africa, transitioning from traditional aid-based approaches to strategic venture capital (VC) investments focused on long-term partnerships, innovation and capacity building. Several Japanese private companies are making Japan’s presence felt in Africa’s VC landscape, particularly in high-growth sectors such as fintech, climate tech and mobility. Growing demand for innovative, technology-driven solutions in Africa has drawn increasing interest from international investors. VC funding in Africa rose from over US$2 billion in 2019 to a peak of US$5.2 billion in 2022. Though investment declined to around US$3.6 billion in 2023, the continent’s start-up…
Ibrahim Sagna, executive chairman of investment firm Silverbacks HoldingsOur new book, How we made it in Africa II: Real stories of entrepreneurs turning opportunity into profit, is available here. The book was recently shortlisted for the Business Council for Africa (BCA) African Business Book of the Year Awards 2026.In a recent interview with How we made it in Africa, Ibrahim Sagna, executive chairman of investment firm Silverbacks Holdings, revealed the five things he looks for when investing in a company.1. Second-time founders. The firm has had the most success with people who are not running their first company. “We haven’t…
Africa’s Young Disruptors: Gambia’s climate activist advising the UN – African Business Africa’s Young Disruptors: Gambia’s climate activist advising the UN – African Business
In brief Gemini 3.7 Flash built a playable browser game from a single prompt in 2 minutes and 13 seconds, a task Gemini 3.6 Flash failed outright three weeks earlier. It failed our bridge logic puzzle with the same wrong answer as Claude Fable 5, and stopped short of actually calculating the math problem it correctly set up. The model runs at 75 cents per million input tokens through December 31, half of 3.6 Flash’s rate, before doubling to $1.50 on January 1. Google shipped Gemini 3.7 Flash on August 13, generally available in more than 160 countries on day…
MTN Nigeria has acknowledged that the daily data usage SMS report experienced a temporary glitch during the week, leading to incorrect figures for subscribers. The clarification comes amid ongoing outrage over data depletion claims. According to a newsletter update by the leading telecoms operator on Friday evening, the company explained that the temporary glitch caused the system to incorrectly display the figures. MTN noted that it calculated the data usage based on gigabytes (GB) instead of megabytes (MB). “Earlier this week, some subscribers noticed discrepancies in the data usage figures displayed in their SMS usage reports,” MTN said in the…
Similar to how practically everything in the world is getting more expensive with every passing day, the cost associated with being a student has risen too. Tuition has gotten more expensive, higher gas prices make commuting pricier, and even the little expenses you barely think about can add up surprisingly quickly over a semester. Then there are software subscriptions. Note-taking apps, AI platforms, coding tools, presentation software, and even the services you use to unwind after class all seem to want a monthly fee now. Add a few of them together, and you can easily end up spending far more…
By Phillip de Vos, Precinct Manager, Waterfall City South Africa’s urban landscape is changing rapidly. Mixed-use precincts are becoming increasingly important as places where people live, work, shop and socialise in close proximity. As these environments become denser and more interconnected, safety can no longer be treated as a separate consideration or delegated solely to perimeter security. It must be embedded into the design, management and operation of urban spaces from the outset. Late one afternoon, a woman stood alone at a bus stop in Waterfall City. A man approached and began asking questions that made her feel uncomfortable. Within…
Cairo, EgyptHere are summaries of the most widely read stories from the past week on Africa Private Equity News.1. SPE Capital, Tanmiya Capital Ventures and others exit Egypt’s TamweelyA consortium comprising SPE Capital, Tanmiya Capital Ventures, the European Bank for Reconstruction and Development and British International Investment has agreed to sell Tamweely to e-Finance for Digital and Financial Investments. Tamweely is an Egypt-based non-bank financial services company that provides financing and related services to micro, small and medium-sized enterprises. Read the full articleA MESSAGE FROM OUR SUPPORTERSITL: Strengthening our Japan presence with new appointmentsAs Japanese investors and corporations increasingly turn…
Moove, a Nigerian-born mobility company, has joined Africa’s growing list of unicorns after raising $250 million in a Series C funding round that valued the company at $2.1 billion. The funding round, led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific, marks a significant increase from Moove’s last disclosed valuation of $750 million in 2024. According to Africa: The Big Deal, Moove’s new valuation places it among the three most valuable African private technology companies with recently disclosed valuations, behind fintech companies, Flutterwave at $3.2 billion and OPay at $3.1 billion. Founded in…